About halfway through the earnings season, most companies have posted upside surprises. Of the S&P 500 companies that have reported as of Friday morning, 78% have beaten bottom-line expectations, while 80% have surpassed sales estimates

Economically speaking, the U.S. economy added 200,000 jobs in January, according to figures released by the Bureau of Labor Statistics. Economists expected growth of 180,000 jobs. Wages, meanwhile, rose 0.3% last month, in line with expectations.